Kinetiko Energy Ltd has entered into a MOU to conclude a joint venture agreement with White Rivers Exploration Pty Limited. The MOU is legally binding for 6 months to enable the parties to enter into a joint venture to explore for CBM and other unconventional and conventional oil and gas opportunities.
White Rivers Exploration Ltd is a South African Company with extensive coal and gold holdings in South Africa. It is a certified BEE (Black Economic Empowerment) entity. White Rivers holds coal exploration rights underlying the onshore gas TCPs subject to this JV agreement. As JV operator, Kinetiko looks forward to working closely with the technical management of White Rivers to maximise the benefits from applying an extensive data base and knowledge of coal geology in the area to methane gas exploration.